HighTower Advisors LLC Sells 3,795 Shares of Norfolk Southern Corporation $NSC

HighTower Advisors LLC decreased its stake in shares of Norfolk Southern Corporation (NYSE:NSCFree Report) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,110 shares of the railroad operator’s stock after selling 3,795 shares during the quarter. HighTower Advisors LLC owned about 0.12% of Norfolk Southern worth $85,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Norfolk Southern in the 2nd quarter valued at about $327,000. Schnieders Capital Management LLC. increased its stake in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after purchasing an additional 2,979 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.1%

Norfolk Southern stock opened at $329.07 on Tuesday. The company’s 50-day moving average price is $335.69 and its two-hundred day moving average price is $315.76. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock has a market cap of $73.91 billion, a P/E ratio of 28.08, a P/E/G ratio of 4.89 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.29 earnings per share. As a group, analysts expect that Norfolk Southern Corporation will post 12.87 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

Analyst Ratings Changes

NSC has been the subject of several recent analyst reports. Susquehanna raised their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Stephens raised Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Weiss Ratings raised Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Finally, Citigroup lifted their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $348.00.

Get Our Latest Analysis on Norfolk Southern

About Norfolk Southern

(Free Report)

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

Further Reading

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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